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Item # 17.

Work Session and Regular Meeting

Meeting Date:	11/13/2018
Department:	Finance
Pillars:	Gold Standard in Financial Health

AGENDA CAPTION:

Present, Discuss, and Consider Action to Approve a Resolution for a Grant Funding Agreement with Metrocrest Chamber of Commerce and Authorize the City Manager to Execute the Agreement in an Amount not to Exceed $35,000.

BACKGROUND:

This item was tabled a the 10/23/2018 Meeting. It is being placed back on the agenda for additional discussion and action by Council.

Town Staff has developed a grant funding process that allows non-profit organizations within the Town of Addison to submit a request of funds for their organization that directly enhances the Town. Town Staff and appointed Council Liaisons evaluate all applications individually. Town Staff review all applicable financials of the non-profit organizations, which includes, but is not limited to: equipment assessment, cash flow assessment, operations assessment, and percentage of annual revenue in comparison to grant request.

To clearly reflect the impact of the grant to Addison and non-Addison residents, Quarterly Grant Reports are required by all non-profit organizations through the end of the Town's Fiscal Year. The Quarterly Grant Reports contain the non-profit organization's goals, objectives and performance measures as identified in the Grant Uses section of the agreement. Financial statements may or may not be required, but Town Staff can request them at any time.

The Metrocrest Chamber of Commerce submitted an application to the Town requesting $35,000 for Fiscal Year (FY) 2019. During the Council budget retreat on August 16, 2018, Council discussed grant funding allocations for multiple non-profits included in the FY 2019 budget. During the discussion concerning the Metrocrest Chamber of Commerce, Council directed staff to grant $35,000 to the organization. The Town has reviewed and evaluated the application and determined that the non-profit organization's request set forth in the application is for a public purpose that directly enhances the town of Addison.

The Metrocrest Chamber of Commerce grant funding agreement is included as Exhibit A in the attached resolution.

RECOMMENDATION:

Administration recommends approval.

Attachments
Resolution - Grant Funding Agreement Metrocrest Chamber